CALGARY - TransCanada Corp. is urging Ontario's energy regulator to reject a proposal by rival Enbridge Inc. for bringing more natural gas into the Greater Toronto Area, arguing the project would not benefit consumers.In a filing to the Ontario Energy Board last Friday, TransCanada questions Enbridge's view that the GTA Pipeline will lead to savings by sourcing gas from a hub in southern Ontario versus one in Alberta.It also says the line, as currently proposed, would be too big and [Read more]
News
Blacksteel Energy Inc. Announces Receipt of Elkton Well License, Spud of Well and Change of Management
CALGARY, ALBERTA--(Marketwired - Aug. 20, 2013) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES Blacksteel Energy Inc. (TSX VENTURE:BEY) ("Blacksteel" or the "Corporation") is pleased to announce the receipt by its industry partner of a well license to drill the Elkton 16-26-27-1 W5M well. Participation by Blacksteel as a farm-in partner on this well was announced previously by the Corporation, but receipt of the well license had been [Read more]
CNOOC says first half profit rises after Nexen buy
HONG KONG (AP) -- China's state-owned CNOOC says first half-profit rose 8 percent on higher oil and gas output after buying Canada's Nexen. Chairman Wang Yilin said Tuesday the company is now focused on integrating Nexen and getting ready for a listing on the Toronto Stock Exchange. The $15.1 billion purchase of Nexen, which closed in February, was China's biggest-ever overseas energy acquisition. The deal was part of a broader trend of Chinese resource companies making foreign [Read more]
TORQ Transloading to Expand Crude-By-Rail Services at North West Terminal in Unity, Saskatchewan
CALGARY, ALBERTA--(Marketwired - Aug. 20, 2013) - TORQ Transloading Inc. ("TORQ") is pleased to announce that construction has commenced on an expansion to rail infrastructure and services at the North West Terminal Ltd. ("NWT") in Unity, Saskatchewan (the "Unity Rail Terminal"). The project will provide TORQ and its crude-by-rail customers with dual access to both of Canadian National and Canadian Pacific's rail networks. The expansion will accommodate segregated crude storage and multiple [Read more]
Canadian Spirit Resources Inc. Announces Second Quarter 2013 Financial Results
CALGARY, ALBERTA--(Marketwired - Aug. 19, 2013) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)(OTCBB:CSPUF) announces the release of its interim financial results and Management Discussion and Analysis ("MD&A") for the three and six month periods ended June 30, 2013. This news release summarizes information contained in the unaudited interim condensed financial statements and MD&A for the three and six month periods ended June 30, 2013 and should not be [Read more]
Southern Pacific Provides July Operational Update
CALGARY, ALBERTA--(Marketwired - Aug. 19, 2013) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) today provided an operational update for the month of July 2013 with respect to the Company's STP-McKay and STP-Senlac thermal projects. Total Corporate Production Total Company production, including bitumen production from STP-McKay and heavy oil from STP-Senlac, averaged 4,483 bbl/d for the month of July 2013, representing a 3% increase from the [Read more]
Alberta sets rules on industry, aboriginal talks
EDMONTON - Alberta has set new rules on how resource industries must deal with aboriginal bands, despite the objections of at least one group that says the policy is designed to keep government in the driver's seat."Government has the complete upper hand," Eriel Deranger, a spokeswoman for the Athabasca Chipewyan First Nation, said Monday. "We don't want government to be developing stuff for us; we want to be developing things in partnership with governments."The final draft of how [Read more]
Pipeline rivals in court over GTA project
CALGARY - TransCanada Corp. is suing the gas distribution business of rival Enbridge Inc. over its decision to end an agreement that would see the two firms co-operate on a 23-kilometre stretch natural gas pipeline in the Greater Toronto Area."TransCanada will suffer irreparable harm if Enbridge does not abide by the terms of the (memorandum of understanding)," TransCanada said in a statement of claim filed in the Ontario Superior Court of Justice last week.To accommodate growing [Read more]
UK lawmaker arrested at anti-fracking protest
LONDON (AP) -- A British lawmaker was among more than two dozen people arrested Monday at a protest against shale gas extraction in southern England. Caroline Lucas, Britain's only Green Party member in Parliament, was led away by police from a sit-in at the gates of a drilling site near the village of Balcombe and put in a police van. Sussex Police said about 25 protesters were arrested for offenses including assault and "obstruction of the highway." Lucas said she and the other [Read more]
Oil falls below $107 as stock markets stall
The price of oil fell below $107 a barrel Monday as traders pondered the effects of the Egyptian crisis on transport costs and whether the U.S. Federal Reserve will start to reduce its monetary stimulus next month. By early afternoon in Europe, benchmark oil for September delivery was down 62 cents to $106.84 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 13 cents to close at $107.46 on Friday, which was its sixth straight day of gains, [Read more]